An unqualified acceptance of all the terms of an offer to form a contract. The complete sale of a life assurance policy by the policy holder to the assignee, who becomes the owner as well as an assignee for value. The consideration is usually the surrender value or another agreed price, but it can also be nominal or for ‘natural love and affection,’ in which case it is referred to as a voluntary assignment. The statutory form of assignment is specified in the Policies of Assurance Act of 1867 (qv). The assignee may agree to pay future premiums and provide a satisfactory discharge for the policy proceeds.